Latest news with #445
The Star
6 days ago
- Business
- The Star
Anwar, govt succeed in removing names from Mukhriz's tax lawsuit
KUALA LUMPUR: Datuk Seri Anwar Ibrahim and the government have successfully struck out their names in an application to initiate judicial review filed by Datuk Seri Mukhriz Mahathir linked to an Inland Revenue Board (LHDN) additional tax assessment amounting to more than RM5mil. Mukhriz, 60, filed the application on Dec 20 last year. He named the LHDN CEO or director-general, Anwar in his capacity as the Finance Minister and the government as the first, second and third respondents, respectively. During yesterday's proceedings, Justice Amarjeet Singh allowed the application by Anwar and the government to strike out their names after hearing submissions from both parties. However, Justice Amarjeet dismissed Anwar and the government's application to strike out several paragraphs in Mukhriz's affidavit that mentioned them. Senior Federal Counsel Irmawatie Daud appeared for the applicants, while lawyer Syed Afiq Syed Albakri represented Mukhriz. On Jan 2, the High Court granted Mukhriz leave to challenge the tax notices by LHDN on grounds that there were issues. The court fixed Dec 16 to hear the application on its merits. In Mukhriz's judicial review application, he is seeking a court order to quash the first respondent's additional tax assessment notice for 2017, 2018 and 2019, amounting to RM5,020,707.18, on grounds that the action is illegal and unreasonable. The notices were for additional tax assessment for 2017 (RM2,558,875.90), 2018 (RM2,445,004.91) and 2019 (RM16,826.37). He is also seeking a declaration that the decision to impose the penalty on him under Section 113(2) of the Income Tax Act is void and beyond legal authority. Mukhriz contends that LHDN wrongfully considered his disposal of shares in Opcom Holdings Bhd and dividends received from M Ocean Capital Sdn Bhd as taxable income, although they were not taxable. He is also seeking general and exemplary damages against the respondents. In March, Anwar and the government had applied to strike out their names as they contended that there was no need to list them as respondents in the judicial review. They said the action of naming them in the lawsuit was 'clearly frivolous, vexatious and an abuse of court process that is obviously unsustainable'.
Yahoo
07-06-2025
- Business
- Yahoo
HSBC Upgrades Dr. Reddy's Laboratories Limited (RDY) to Buy from Hold
On June 5, HSBC upgraded Dr. Reddy's Laboratories Limited (NYSE:RDY) from Buy to Hold, raising the price target to INR1,445 from INR1,235, citing an optimistic outlook for the company in terms of earnings potential and solid market standing. A worker at a biopharmaceutical facility packaging an active pharmaceutical ingredient. HSBC's updated estimates for FY2026 to FY2028 take into account the shifting market tide for semaglutide and gRevlimid. The analysts are waiting for semaglutide to be introduced in Canada, Brazil, and India at the beginning of FY2027, which is a greater leap from their prior hypothesis of a launch only in Canada by Q4 of FY2026. The analysts revised their FY2026 sales figures for Dr. Reddy's Laboratories Limited (NYSE:RDY)'s gRevlimid, noting the growing competition. The adjustment includes a 5.1% decrease in the EPS estimate for FY2026, while the EPS forecast for FY2027 and FY2028 grew by 12% to 13%. According to HSBC analysts, the expected surge in semaglutide sales will strengthen Dr. Reddy's earnings. HSBC assigned a new price target for RDY's American Depositary Receipts (ADR) as well, raising it from $14.44 to $16.90. Dr. Reddy's Laboratories Limited (NYSE:RDY) is a global pharma company based in Hyderabad, India, that makes both branded and generic medicines for a wide range of health conditions. The company operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. While we acknowledge the potential of RDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
HSBC Upgrades Dr. Reddy's Laboratories Limited (RDY) to Buy from Hold
On June 5, HSBC upgraded Dr. Reddy's Laboratories Limited (NYSE:RDY) from Buy to Hold, raising the price target to INR1,445 from INR1,235, citing an optimistic outlook for the company in terms of earnings potential and solid market standing. A worker at a biopharmaceutical facility packaging an active pharmaceutical ingredient. HSBC's updated estimates for FY2026 to FY2028 take into account the shifting market tide for semaglutide and gRevlimid. The analysts are waiting for semaglutide to be introduced in Canada, Brazil, and India at the beginning of FY2027, which is a greater leap from their prior hypothesis of a launch only in Canada by Q4 of FY2026. The analysts revised their FY2026 sales figures for Dr. Reddy's Laboratories Limited (NYSE:RDY)'s gRevlimid, noting the growing competition. The adjustment includes a 5.1% decrease in the EPS estimate for FY2026, while the EPS forecast for FY2027 and FY2028 grew by 12% to 13%. According to HSBC analysts, the expected surge in semaglutide sales will strengthen Dr. Reddy's earnings. HSBC assigned a new price target for RDY's American Depositary Receipts (ADR) as well, raising it from $14.44 to $16.90. Dr. Reddy's Laboratories Limited (NYSE:RDY) is a global pharma company based in Hyderabad, India, that makes both branded and generic medicines for a wide range of health conditions. The company operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. While we acknowledge the potential of RDY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab Times
01-06-2025
- Health
- Arab Times
Crackdown on Fictitious Disabilities Files Saves Big Money
KUWAIT CITY, June 1: Acting Director of the Public Authority for Disabled Affairs (PADA) Wafaa Al-Mahanna revealed that the decision of the authority to suspend the files of persons with disabilities whose data have not been updated led to savings of KD166,445 per month or KD1.998 million per year, reports Al-Jarida daily. Al-Mahanna told the daily that the total number of these cases reached 826 -- 183 of which reported to the authority. He gave a breakdown of these cases as follows: three died in 2017, 2022 and 2025 respectively; 18 renewed their registration; 40 had appointments; 46 appeared before the committees but their renewal requests were denied; 25 renewed their registration with reduction in the severity of their disability -- from severe to moderate or from moderate to mild; 51 renewed their registration with the same degree of disability; and 643 neither reported to the authority nor responded to repeated calls to update their data and documents and re-submit them to the relevant medical committees. She confirmed that these individuals were given a 60- day grace period to respond and update their information, but they did not do so. She said the authority ensured that they were notified on the need to review their cases through various means like SMS messages, Sahel application or WhatsApp. 'After exhausting all available means, the authority was forced to suspend their files pending review and update,' she added. She revealed the financial impact of the suspension was as follows: 201 learning disability cases received a total of KD37,185,000 monthly or KD446,220,000 annually; 96 minor disability cases received KD17,760,000 monthly or KD213,120,000 annually; and 11 moderate disability cases received KD2,475,000 monthly or KD29,700,000 annually. On moderate disability cases receiving household worker and driver allowances; 277 cases got a total of KD27,700 monthly or KD332,400 annually; 114 moderate disability cases receiving personal, household worker and driver allowances got KD37,050 or KD444,600 annually; three severe disability cases receiving personal allowance got KD825 monthly or KD9,900 annually; 57 other severe disability cases receiving a household worker allowance got KD8,550 monthly or KD102,600 annually; 41 severe disability cases receiving personal, driver and household allowances got KD17,424 monthly or KD209,100 annually; five severe disability cases receiving household and disabled care allowances got KD2,250 monthly or KD27,000 annually; and 21 cases receiving personal, household, driver and disabled care allowances got KD15,225 monthly or KD182,700 annually.
CNN
21-03-2025
- General
- CNN
Bering Air plane that crashed in Alaska was overweight before it took off, new NTSB report says
The regional airline flight in Alaska that crashed, killing all 10 people onboard, was overweight before it took off, according to a preliminary report released Wednesday by the National Transportation Safety Board. The Cessna Grand Caravan operated by Bering Air as flight 445 crashed about 34 miles southeast of Nome, Alaska, on February 6. It was initially reported missing but was found the next day on ice floating in Alaska's Norton Sound. The icepack, which was subject to the tidal ocean currents, continuously moved about 5 to 10 miles per day, which complicated search and rescue efforts, the report notes. The NTSB found the airplane's estimated gross takeoff weight at departure was about 9,865 pounds, which was about 1,058 pounds over the maximum for flights into icing conditions, and more than 800 pounds over the limit for better weather. There was light snow and traces of ice reported around the time of the crash and the temperature was about 12 degrees. An examination of the wreckage outlined in the report found the plane was broken apart on impact, but there were signs of icing on the top of the tail. A senior aerospace engineer will conduct a detailed review of the airplane's performance as part of the investigation, including an evaluation of the airplane's center of gravity, according to the NTSB. The NTSB also compiled data about the plane's flight path, communications between the pilot and Anchorage Air Traffic Control and data downloaded from the onboard avionics. This preliminary report does not identify a probable cause of the crash, which usually takes the NTSB a year or longer to determine. The small commuter aircraft, which took off from Unalakleet, was carrying nine passengers and one pilot when it crashed. The tragedy shook the city of Nome, a community accustomed to travel by small plane across Alaska's vast landscapes. The crash came just a week after an American Airlines plane and a Black Hawk Helicopter collided in Washington, DC, killing 67 people. That collision, along with the Alaska crash, are two of the deadliest plane disasters of the last decade in the US.
